Trump gets Covid and we Crash? - page 5.

LordShanken

sr. member

Activity: 1112

Merit: 256

Quote from: hatshepsut93 on October 02, 2020, 01:23:46 AM

Quote from: Parking_Meater on October 02, 2020, 12:32:44 AM

Buy the dips though.

1% drop is not the dip for Bitcoin, it randomly goes up or down by a few percents very frequently. So, it's actually not a good idea to FOMO right now, better sit and wait for an actual dip, if buying the dip is your chosen strategy.

Trump is apparently good for the stock market, and now there is a small increase for the outcome where he is no longer a POTUS after these elections, so no wonder that the market reacted negatively, and Bitcoin is following stocks for now.

Exactly, 1% is not a big price drop for Bitcoin or any other cryptocurrency.

At the moment, I don't see a big problem yet, except that the other candidate could get COVID .. Roll Eyes

And it would certainly be a very big problem if one of them (of course I do not wish it to anyone) would die before the election.. Shocked

Can you imagine it ?!
This could shake the economy not only of the United States but certainly of the entire world. And the prices in the markets would definitely dive as hell..

adaseb

legendary

Activity: 3808

Merit: 1723

Yes if you look at the timeframe, it was a few seconds after he sent the tweet that SP500 futures started to crash. And then shortly after the crypto markets followed. Honestly I am surprised we are still >$10K after all this negative news of the last 24 hours or last week due to also the Kucoin hack.

Trump getting Covid definately isn't bullish, and if you look at his polls and all those "Election odd bets" website they all are tanking on Trump winning the election due to this positive test result. Even if he didn't get Covid, if he lost the Election markets would probably tank anyways.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Quote from: Parking_Meater on October 02, 2020, 12:32:44 AM

Buy the dips though.

1% drop is not the dip for Bitcoin, it randomly goes up or down by a few percents very frequently. So, it's actually not a good idea to FOMO right now, better sit and wait for an actual dip, if buying the dip is your chosen strategy.

Trump is apparently good for the stock market, and now there is a small increase for the outcome where he is no longer a POTUS after these elections, so no wonder that the market reacted negatively, and Bitcoin is following stocks for now.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: nutildah on October 02, 2020, 12:44:32 AM

The price of BTC is inextricably tied to the stock market because of the institutional investors that hold and trade a lot of bitcoin.

True. And as we speak, the S&P500 futures is down by -1.60% as of yet(of course it could still change). Unless bitcoin moves in a different direction vs the S&P500, which I totally doubt will happen any time soon, this isn't a good sign for the US stock market and bitcoin in the short term. Though of course I could definitely be wrong, I'm getting cash ready to invest in both asset classes.

EDIT: Created a topic concerning bitcoin, gold, and the S&P500: https://bitcointalksearch.org/topic/updated-bitcoin-vs-gold-vs-the-us-stock-marketus500-5279522

nutildah

legendary

Activity: 3010

Merit: 8114

The price of BTC is inextricably tied to the stock market because of the institutional investors that hold and trade a lot of bitcoin. As bitcoin is considered to be the highest risk asset by Wall Street, it tends to get sold off first any time there is a bit of panic or uncertainty in the market. This time around the uncertainty is due to Trump's unexpected diagnosis.

Parking_Meater

newbie

Activity: 27

Merit: 1

Like holy hell what a ride the past day has been with the bitmex stuff and now the POTUS getting covid with the first lady (they say) Everything is taking a dump.

Buy the dips though.

Topic: Trump gets Covid and we Crash? - page 5. (Read 914 times)